New York State Teachers Retirement System Has $112.57 Million Stake in BlackRock (NYSE:BLK)

New York State Teachers Retirement System cut its position in BlackRock (NYSE:BLK - Free Report) by 1.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 118,938 shares of the asset manager's stock after selling 2,067 shares during the quarter. New York State Teachers Retirement System owned approximately 0.08% of BlackRock worth $112,572,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the company. IAG Wealth Partners LLC acquired a new stake in shares of BlackRock in the fourth quarter valued at about $26,000. Investment Management Corp VA ADV acquired a new position in shares of BlackRock during the 4th quarter worth about $30,000. Synergy Investment Management LLC bought a new stake in BlackRock during the 4th quarter valued at approximately $40,000. Curio Wealth LLC acquired a new stake in BlackRock in the 4th quarter valued at approximately $41,000. Finally, Cedar Wealth Management LLC bought a new position in BlackRock in the 4th quarter worth approximately $43,000. Institutional investors own 80.69% of the company's stock.

Wall Street Analyst Weigh In

BLK has been the subject of several research reports. Wall Street Zen raised BlackRock to a "hold" rating in a research report on Saturday, May 24th. Bank of America cut their target price on shares of BlackRock from $1,196.00 to $1,178.00 and set a "buy" rating for the company in a research note on Thursday, April 3rd. TD Cowen decreased their price target on shares of BlackRock from $1,251.00 to $1,032.00 and set a "buy" rating on the stock in a research report on Wednesday, April 9th. Wells Fargo & Company boosted their price objective on shares of BlackRock from $1,035.00 to $1,105.00 and gave the stock an "overweight" rating in a report on Wednesday, June 4th. Finally, Citigroup cut their price objective on shares of BlackRock from $1,200.00 to $1,100.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $1,105.15.

BlackRock Price Performance

NYSE BLK traded up $16.26 on Wednesday, reaching $1,070.53. The company's stock had a trading volume of 494,995 shares, compared to its average volume of 694,309. BlackRock has a 52 week low of $773.74 and a 52 week high of $1,084.22. The company has a current ratio of 4.34, a quick ratio of 4.34 and a debt-to-equity ratio of 0.38. The firm has a market cap of $165.86 billion, a PE ratio of 26.01, a price-to-earnings-growth ratio of 3.20 and a beta of 1.41. The business has a 50-day moving average price of $973.12 and a 200 day moving average price of $969.38.

BlackRock (NYSE:BLK - Get Free Report) last released its quarterly earnings data on Friday, April 11th. The asset manager reported $11.30 earnings per share for the quarter, beating analysts' consensus estimates of $10.84 by $0.46. BlackRock had a return on equity of 15.57% and a net margin of 30.09%. The company had revenue of $5.28 billion for the quarter, compared to the consensus estimate of $5.47 billion. During the same period in the previous year, the business earned $9.81 earnings per share. The company's quarterly revenue was up 11.6% on a year-over-year basis. Sell-side analysts expect that BlackRock will post 47.41 EPS for the current year.

BlackRock Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 23rd. Shareholders of record on Thursday, June 5th were given a $5.21 dividend. This represents a $20.84 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date was Thursday, June 5th. BlackRock's dividend payout ratio (DPR) is 50.63%.

Insiders Place Their Bets

In other BlackRock news, Director J. Richard Kushel sold 10,000 shares of BlackRock stock in a transaction on Thursday, April 24th. The stock was sold at an average price of $912.50, for a total transaction of $9,125,000.00. Following the completion of the transaction, the director directly owned 66,034 shares of the company's stock, valued at approximately $60,256,025. This trade represents a 13.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.98% of the stock is owned by company insiders.

BlackRock Company Profile

BlackRock, Inc is a publicly owned investment manager. The firm primarily provides its services to institutional, intermediary, and individual investors including corporate, public, union, and industry pension plans, insurance companies, third-party mutual funds, endowments, public institutions, governments, foundations, charities, sovereign wealth funds, corporations, official institutions, and banks.